Foreign Investment Eyes Chinese Tourism Market

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(TVLW) – At present, annual foreign investment estimates of RMB30 billion to RMB40 billion account for 25% of total Chinese tourism capital.

The National Tourism Administration of China said that during the period of the 11th Five-Year Plan, China plans to build 12,697 tourism projects with more than RMB1.78 trillion of investment, of which over RMB138.5 billion are from foreign enterprises.

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According to media reports, Chinese tourism industry will maintain 10% of year-on-year growth, and individual tourism consumption will increase by 9.8% annually while corporate, group and business traveling grow by 10.9%. By 2010, China’s total tourism revenue will account for 8% of its GDP.

Foreign investments in mainland tourism sector are mainly from 27 countries and areas, among which, Hong Kong, United States and Britain made the top three, respectively occupying 50%, 11% and 9% of total foreign investment. The attractive areas for foreign business investment are still focused on the eastern regions of China.

chinahospitalitynews.com